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Russia projects 2% budget deficit even under conservative oil price estimate — Putin

Opening a meeting on the economy, the head of state noted that this fiscal gap remains manageable under the current macroeconomic assumptions

MOSCOW, September 17. /TASS/. Russia’s federal budget deficit is projected to hit approximately 2%, calculated against a highly conservative oil price estimate, President Vladimir Putin announced on Thursday.

Opening a meeting on the economy, the head of state noted that this fiscal gap remains manageable under the current macroeconomic assumptions.

"According to preliminary estimates, the federal budget deficit is expected to be around 2%," Putin said. "And this is based on a very conservative estimate of oil prices."

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